PART A: Individual Coursework assignment of a maximum of 4,000 words (75% of overall grade)
Assume you are a strategy consultant working on a contract for a large multinational retail bank (“The Bank”) based in Western
Europe. Management at The Bank have become aware of the growing interest in cryptocurrencies and the blockchain
technology that underpins them. Specifically, they are interested in the potential for cryptocurrencies, namely; permission less coins (e.g. Bitcoin), permissioned coins (e.g. JP Morgan’s JPM Coin which was launched in Q1 2019) and central bank digital currencies or CBDC’s, which have been proposed by The Bank of England in 2018.
In your strategic consultancy role your client, (The Bank), tasks you with strategically reviewing the future of digital currencies (see the Bitcoin Case Study (BM6001 SM CW Case Study 19AUT – Bitcoin)- attached in additional materials and the impact that would have upon The Bank if
it were to occur.
Please research, analyze, evaluate, devise and submit a 4,000 word strategic plan for The Bank to strategically respond to the changing nature of digital payments and monetary systems in the new FinTech enabled global economy
The strategic plan should cover the following points:
Update the information within the 2014 Case Study through to the present day using secondary research.
Identify and evaluate the key drivers of change in the macro environment with respect to the future of money for
The Bank using the PEST(EL) model and how they interact with the competencies and resources of new forms of
money using a SWOT.
Using Porter’s 5 Forces Model critically analyze the global digital payments industry and evaluate the relative
desirability of the industry for companies such as “The Bank” to operate in this space.
Critically analyze the stakeholders of new forms of money using a mapping technique and evaluate the stability of
their current positions.
Develop and strategically evaluate the likely future scenarios for the future of money and digital payments on a global basis.
Discuss whether the medium to long-term future of the digital payments industry, and therefore the future of such
new forms of money, are sustainable in their current structure. What changes may occur going forward and how
might The Bank respond now to be best placed to prosper going forward? Consider using scenario analysis techniques here.
Access and read carefully the Bitcoin Case Study (BM6001 SM CW Case Study 19AUT – Bitcoin) – which is attached in additional material.Your research must be fully referenced in your coursework using the Harvard system.